Base Year
Historical Year
Forecast Year
The Europe car rental market reached USD 14.88 billion in 2023. The market is expected to grow at a CAGR of 11.0% between 2024 and 2032, reaching USD 38.1 billion by 2032.
| Europe Car Rental Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 14.88 |
| Market Size 2032 | USD Billion | 38.1 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 11.0% |
| CAGR 2024-2032 - Market by Country | UK | 17.5% |
| CAGR 2024-2032 - Market by Booking Type | Online | 13.5% |
| CAGR 2024-2032 - Market by Length Type | Short-Term | 13.1% |
The Europe car rental market growth is boosted by offline modes of booking as a more traditional means of booking and online modes as being more convenient.
Offline modes of booking involve visiting physical offices, using intermediary services, or making reservations over the phone. This approach is a more traditional one and provides a personal touch to the process. Offline methods still cater to cohorts that value physical interactions. There is also a rising inclination among consumers towards more sustainable options prompting companies to invest in electric vehicles.
In December 2021, German mobility startup Vay secured $95 million from investors like Kinnevik, Coatue, and Eurazeo. It debuted its first car-rental service in Hamburg the following year. Customers could book electric cars via a mobile app, delivered by remote drivers. Vay's approach differed from companies employing costly sensors for autonomous vehicles, opting instead for camera-based systems to facilitate remote driving.
Online modes of booking such as applications and websites are gaining popularity considering advancements in technology owing to a rising need for better customer experience. Reservations made via third-party websites, mobile applications and rental websites are online modes of reservation that are considered more convenient. They provide real-time availability and flexibility.
Europe Car Rental Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Booking Type
Market Breakup by Rental Length Type
Market Breakup by Application Type
Market Breakup by Vehicle Type
Market Breakup by Country
| CAGR 2024-2032 - Market by | Country |
| UK | 17.5% |
| Germany | XX% |
| France | XX% |
| Italy | XX% |
| Others | XX% |
Growth in the car rental market comes from the rising popularity of typically high end vehicles from premium brands known for their superior performance, comfort, and features. These appeals to individuals seeking luxury travel experiences, business trips or special occasions where comfort and prestige are considered a priority.
Major market players are expanding their outreach through mergers, acquisitions, and rising investment in sustainable practices and ease of access through investments in remote and online methods of booking through mobile applications and websites.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Booking Type |
|
| Breakup by Rental Length Type |
|
| Breakup by Application Type |
|
| Breakup by Vehicle Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at USD 14.88 billion in 2023.
The market is projected to grow at a CAGR of 11.0% between 2024 and 2032.
The car rental market is categorised according to booking type, which includes online modes of booking and offline modes of booking.
The car rental market key players are Avis Budget Group Inc., Enterprise Holdings, Inc., Hertz Global Holdings, Inc., Sixt SE, Europcar International S.A.S.U, Economy Car Hire Ltd., ALD Automotive Limited, Edel & Stark AG, Booking Holdings Inc., fourdrive GmbH, and Wucherpfennig & Krohn GmbH among others.
Based on the end use, the market is divided into leisure/tourism and business.
The market is broken down into Germany, the United Kingdom, France, Italy, and others.
The revenue generated from the car rental market is expected to reach USD 38.1 billion in 2032.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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